Product Manager, Home Financing

BMO•Toronto, ON

1d•CA$69,000 - CA$129,000•Onsite

About The Position

Supporting the Group Product Manager for the HELOC (Homeowner Readiline and Homeowner Line of Credit) product portfolio by Execution and Product Performance monitoring. This role involves managing day-to-day product operations aligned to strategy, monitoring product performance, and providing portfolio reporting, analysis, and insights. It also includes performing deep dive analysis on trends, issues, and opportunities. The role acts as a Subject Matter Expert (SME) for NCCS (Product servicing system), supporting system enhancements, delivery, and testing of initiatives. Additionally, it serves as a Product SME to clarify requirements and support the implementation of initiatives, defining detailed requirements and supporting the roll-out of changes. Governance execution and stakeholder support are key, including leading product cyclical reviews, control testing, and remediation initiatives. Building strong stakeholder relationships is crucial, with stakeholders including Retail Branches, Virtual Connect, Private Banking, Mortgage Specialists, B2C Operations, Technology, Home Buying Transformation, Business Governance, and Risk. The role supports the fulfillment of various stakeholder requests and the development of long-term solutions to address pain points. It involves researching, defining, aligning, developing, and implementing sales and marketing strategies with P&L accountability to enable the sales force to effectively sell, fulfill, and service new and existing individual or portfolio of banking products and improve the customer experience. The role carries out market research, forecasting, pricing, and competitive analysis, monitors product and system performance, and assesses problems to develop and implement solutions. It manages product risks in compliance with legal, regulatory, and risk compliance, and reporting. Collaboration with internal partners across the enterprise to take products to market is essential. Fostering a culture aligned to BMO purpose, values, and strategy, and role-modeling BMO values and behaviors in all actions is expected. Ensuring alignment between values and behaviors that foster diversity and inclusion is important. Regularly connecting work to BMO’s purpose, setting inspirational goals, defining clear expected outcomes, and ensuring clear accountability for follow-through are key. Building interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders is a priority. Attracting, retaining, and enabling the career development of top talent, improving team performance, recognizing and rewarding performance, coaching employees, supporting their development, and managing poor performance are also part of the role. Recommending and implementing solutions based on analysis of issues and implications for the business, assisting in the development of strategic plans, and identifying emerging issues and trends to inform decision-making are required. Supporting the execution of strategic initiatives in collaboration with internal and external stakeholders, conducting independent analysis and assessment to resolve strategic issues, and developing business cases by identifying needs, analyzing potential options, and assessing expected returns on investment are also part of the responsibilities. Providing recommendations on product lifecycle, building effective relationships with internal/external stakeholders, and ensuring alignment between stakeholders are crucial. Designing and producing regular and ad-hoc reports, and dashboards, breaking down strategic problems, and analyzing data and information to provide insights and recommendations are necessary. Monitoring and tracking performance, and addressing any issues, supporting change management of varying scope and type (tasks typically focused on execution and sustainment activities), and providing input into the planning and implementation of operational programs are required. Executing work to deliver timely, accurate, and efficient service, monitoring key product performance and growth metrics to identify trends and recommend action plans, and leading/overseeing the management of vendor relationships and external partnerships and providing guidelines for execution are also key aspects. Resolving internal, complex or higher risk customer escalations or policy exceptions, which may include interactions with clients and sales, reviewing analysis of issues and identifying gaps and solutions, and providing competitive analysis and benchmarking to identify product strengths and gaps, and extract insights are part of the role. Analyzing customer/consumer insights and channel data to identify strengths and gaps, and extract insights, completing internal and regulatory reporting, and attestations, and identifying existing and potential risks and developing risk management controls and processes are also required. Developing and maintaining product directives and policies, supporting development of key metrics and identification of trends, gathering customer and sales feedback and analyzing issues, and participating in and evaluating market research and competitive analysis associated with assigned products are also part of the responsibilities. Participating in and evaluating customer / consumer insights and channel information, acting as the day-to-day contact for vendors, supporting the implementation, maintenance, and sustainment of vendor solutions, and resolving internal, first-level customer escalations are also key. Leading/participating in the design, implementation, and management of core business/group processes, gathering basic market research and competitive intelligence, including pricing, from publicly available information, and running analyses and reports that support risk management and policy development are also required. Defining and implementing business cases and strategic roadmaps for banking products and services, including project and budget approvals, designing, implementing, managing, and enhancing a single product or suite of products throughout the product lifecycle, and developing, implementing, and monitoring key metrics and action plans to optimize financial performance are also part of the role. Continuously improving processes to identify issues and deliver optimal customer experience, working with partners to develop salesforce training and materials and managing change, and potentially supporting the sales team in development of client deals and related presentations are also key. Developing and maintaining relationships with external partners and vendors, creating the marketing strategy, including offers and campaigns, and working with Marketing and other partners to execute are also required. Developing, implementing, and managing product documentation, templates, and requirements to ensure they accurately reflect product and systems functionality, influencing and/or determining credit product risk parameters and metrics are also part of the role. The focus is primarily on business/group within BMO, though may have a broader, enterprise-wide focus. Providing specialized consulting, analytical, and technical support, exercising judgment to identify, diagnose, and solve problems within given rules, and working independently and regularly handling non-routine situations are also expected. Broader work or accountabilities may be assigned as needed. Taking measured risks while protecting the bank by applying our Risk Management Framework in the execution of the role, in line with our Risk Culture and within our approved Risk Appetite, making sound and risk-informed decisions that align to business strategy, protect assets, and adhere to applicable policy documents (Frameworks, Policies, Standards, Procedures and Supporting documents), laws and regulations.

Requirements

Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
Strong experience with consumer / commercial credit applicable to retail and business financing products.
Strong experience working with retail and business product fundamentals, including product design, functionality, and related policies and procedures
Strong knowledge of product delivery infrastructure systems and underlying product interdependencies.
In-depth retail and business banking environmental awareness / understanding.
In-depth risk management associated with new and existing product development and management.
Strong knowledge of process coordination and management.
Strong knowledge of banking product management and associated industry and regulatory requirements.
Building business cases - in-depth
Researching market trends – in-depth
Relationship management – in-depth
Analytics and reporting – in-depth
Product marketing – in-depth
Negotiation skills – good
Software and systems architecture knowledge – good/in-depth
Financial Understanding – good/in-depth
Deep knowledge and technical proficiency gained through extensive education and business experience.
Verbal & written communication skills - In-depth.
Collaboration & team skills - In-depth.
Analytical and problem solving skills - In-depth.
Influence skills - In-depth.
Data driven decision making - In-depth.

Responsibilities

Supporting the Group Product Manager for the HELOC (Homeowner Readiline and Homeowner Line of Credit) product portfolio by Execution and Product Performance monitoring
Managing day to day product operations aligned to strategy
Monitoring product performance and providing portfolio reporting, analysis, and insights
Performing deep dive analysis on trends, issues, and opportunities
Acting as a SME for NCCS (Product servicing system) by supporting with system enhancements, delivery and testing of initiatives
Acting as Product SME to clarify requirements and support implementation of initiatives
Defining detailed requirements and support roll-out of changes
Governance execution and stakeholder support
Leading product cyclical reviews, control testing, and remediation initiatives
Building Strong stakeholder relationship management and support
Supporting fulfilment of various stakeholder requests and development of long-term solutions to address pain points
Researches, defines, aligns, develops, and implements sales and marketing strategies with P&L (profit and loss) accountability to enable the sales force to effectively sell, fulfill, and service new and existing individual or portfolio of banking products and improve the customer experience.
Carries out market research, forecasting, pricing, and competitive analysis, monitors product and system performance, and assesses problems to develop and implement solutions.
Manages product risks in compliance with legal, regulatory, and risk compliance, and reporting.
Collaborates with internal partners across the enterprise to take products to market.
Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.
Ensures alignment between values and behaviour that fosters diversity and inclusion.
Regularly connects work to BMO’s purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
Attracts, retains, and enables the career development of top talent.
Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
Recommends and implements solutions based on analysis of issues and implications for the business.
Assists in the development of strategic plans.
Identifies emerging issues and trends to inform decision-making.
Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
Conducts independent analysis and assessment to resolve strategic issues.
Develops business cases by identifying needs, analyzing potential options, and assessing expected returns on investment.
Provides recommendations on product lifecycle.
Builds effective relationships with internal/external stakeholders.
Ensures alignment between stakeholders.
Designs and produces regular and ad-hoc reports, and dashboards.
Breaks down strategic problems, and analyzes data and information to provide insights and recommendations.
Monitors and tracks performance, and addresses any issues.
Supports change management of varying scope and type; tasks typically focused on execution and sustainment activities.
Provides input into the planning and implementation of operational programs.
Executes work to deliver timely, accurate, and efficient service.
Monitors key product performance and growth metrics to identify trends and recommend action plans.
Leads/oversees the management of vendor relationships and external partnerships and provides guidelines for execution; ensures that all agreements are met as per requirements.
Resolves internal, complex or higher risk customer escalations or policy exceptions, which may include interactions with clients and sales.
Reviews analysis of issues and identifies gaps and solutions.
Provides competitive analysis and benchmarking to identify product strengths and gaps, and extract insights.
Analyzes customer/consumer insights and channel data to identify strengths and gaps, and extract insights.
Completes internal and regulatory reporting, and attestations.
Identifies existing and potential risks and develops risk management controls and processes.
Develops and maintains product directives and policies.
Supports development of key metrics and identification of trends.
Gathers customer and sales feedback and analyzes issues.
Participates in and evaluates market research and competitive analysis associated with assigned products.
Participates in and evaluates customer / consumer insights and channel information.
Acts as the day to day contact for vendors; supports the implementation, maintenance, and sustainment of vendor solutions.
Resolves internal, first level customer escalations.
Leads/participates in the design, implementation, and management of core business / group processes.
Gathers basic market research and competitive intelligence, including pricing, from publicly available information.
Runs analyses and reports that support risk management and policy development.
Defines and implements business cases and strategic roadmaps for banking products and services, including project and budget approvals.
Designs, implements, manages, and enhances a single product or suite of products throughout the product lifecycle.
Develops, implements, and monitors key metrics and action plans to optimize financial performance
Continuously improves processes to identify issues and deliver optimal customer experience.
Works with partners to develop salesforce training and materials and manages change.
May support the sales team in development of client deals and related presentations.
Develops and maintains relationships with external partners and vendors.
Creates the marketing strategy, including offers and campaigns, and works with Marketing and other partners to execute.
Develops, implements, and manages product documentation, templates, and requirements to ensure they accurately reflect product and systems functionality.
Influences and/or determines credit product risk parameters and metrics.
Provides specialized consulting, analytical and technical support.
Exercises judgment to identify, diagnose, and solve problems within given rules.
Works independently and regularly handles non-routine situations.
Broader work or accountabilities may be assigned as needed.
Take measured risks while protecting the bank by applying our Risk Management Framework in the execution of your role, in line with our Risk Culture and within our approved Risk Appetite, making sound and risk informed decisions that align to business strategy, protect assets, and adhere to applicable policy documents (Frameworks, Policies, Standards, Procedures and Supporting documents), laws and regulations.